Elon Musk will be speaking with Twitter staff at a meeting this Thursday. This will be the first time the Tesla CEO will be directly interacting with the employees since the $44 billion takeover bid in April.
A spokesman told The Wall Street Journal that Twitter Chief Executive Parag Agrawal informed staff via email that they can submit their questions to Musk in advance. This news comes a week after the Tesla chief threatened to walk away from the multi-billion-dollar deal.
Last week, Musk’s lawyer Mike Ringler wrote to Twitter Chief Legal Officer Vijaya Gadde. The contents of the letter suggested that the Tesla CEO may not go through with the Twitter takeover. This could result in a legal dispute between the two parties. As per the agreement, both parties have agreed that they will pay each other a breakup fee of $1 billion if the deal is not consummated.
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This doesn’t mean that Musk can get off scot-free by simply paying the agreed amount. According to the original filing, Twitter can sue Musk to force him to honour the deal.
Ever since Musk’s Twitter bid was announced, many Twitter employees voiced their displeasure. Some said that his leadership could be detrimental to the company’s business. On the other hand, Musk expressed frustration over not being provided with data on fake accounts and spam bots on the popular microblogging platform. Analysts say that Musk is trying to leverage the issue to get a better deal.
Following these accusations, Texas Attorney General Ken Paxton said that he will be investigating the matter. This move by Paxton indicates that Twitter may have violated Texas’ Deceptive Trade Practices Act.